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Novo Nordisk Invests $556 Million In Tianjin Manufacturing Plant for Weight Loss Drug

publication date: Mar 20, 2024

Novo Nordisk, the Danish biopharma centered on diabetes therapies, announced plans to invest $556 million to expand its Tianjin city production facility, presumably to manufacture its blockbuster weight loss drug, Wegovy. The GLP-1 receptor agonist was initially approved to treat type2 diabetes in 2017, but its sales increased greatly since being approved as a weight loss therapy. In late 2023, Novo announced plans for a $6 billion plant in Denmark, and one month ago, it paid $16.5 billion to acquire a large drug manufacturing company Catalent. More details....

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